Global Automotive Ultra-Capacitor Market to Grow at a CAGR of 18.3% Over 2024, Says Research Nester
Ultra-capacitor is a type of electrical device which is used to store the energy and supply peak loads when required. Automotive ultra-capacitors are used in electric vehicle and hybrid vehicle to supply short term powers during period of demand. These capacitors are installed in regenerative braking systems and start stop systems. The market share of the automotive ultra-capacitor has constantly been rising due to the increased adoption of ultra-capacitors among the automobile manufacturers as they offer various advantages such as improved fuel-efficiency, reduced greenhouse gases emission, high battery life and others. Market Size and Forecast The automotive ultra-capacitor market is showcased to witness a robust growth during the forecast period 2017-2024. The market is anticipated to flourish at a CAGR of 18.3% over the forecast period. Rapid technological advancement and increasing production and sale of automobiles is anticipated to garner the growth of this segment. Euro...